Ram Quarter Investments Limited 31/03/2022 iXBRL

RAM QUARTER INVESTMENTS LIMITED - Company Information

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Company registration number: 13613403

Ram Quarter Investments Limited

Unaudited filleted financial statements

31 March 2022

Ram Quarter Investments Limited

Contents

Directors and other information

Directors report

Statement of financial position

Statement of changes in equity

Notes to the financial statements

Ram Quarter Investments Limited

Directors and other information


Directors	Mr R Suterwalla
	Mr M Woolley	(Resigned 29 July 2022)


Secretary	Mr A Loader


Company number	13613403


Registered office	Thame Road
	Warborough
	Wallingford
	Oxfordshire
	OX10 7DA

Ram Quarter Investments Limited

Directors report

Period ended 31 March 2022

The directors present their report and the unaudited financial statements of the company for the period ended 31 March 2022.

Directors

The directors who served the company during the period were as follows:


Mr R Suterwalla
Mr M Woolley				(Resigned 29 July 2022)

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 22 September 2022 and signed on behalf of the board by:

Mr R Suterwalla

Director

Ram Quarter Investments Limited

Statement of financial position

31 March 2022

		31/03/22
	Note	£	£

Fixed assets
Tangible assets	5	19,804,947
		_______
			19,804,947

Current assets
Debtors	6	208,986
Cash at bank and in hand		70,055
		_______
		279,041
Creditors: amounts falling due
within one year	7	( 19,948,004)
		_______
Net current liabilities			( 19,668,963)
			_______
Total assets less current liabilities			135,984

			_______
Net assets			135,984
			_______

Capital and reserves
Called up share capital			1,000
Profit and loss account			134,984
			_______
Shareholders funds			135,984
			_______

For the period ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 22 September 2022 , and are signed on behalf of the board by:

Mr R Suterwalla

Director

Company registration number: 13613403

Ram Quarter Investments Limited

Statement of changes in equity

Period ended 31 March 2022

	Called up share capital	Profit and loss account	Total
	£	£	£


At 10 September 2021	-	-	-

Profit for the period		134,984	134,984
	_______	_______	_______
Total comprehensive income for the period	-	134,984	134,984

Issue of shares	1,000		1,000
	_______	_______	_______
Total investments by and distributions to owners	1,000	-	1,000

	_______	_______	_______
At 31 March 2022	1,000	134,984	135,984
	_______	_______	_______

Ram Quarter Investments Limited

Notes to the financial statements

Period ended 31 March 2022

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Kings Barn, Thame Road, Warborough, Wallingford, Oxfordshire, OX10 7DA.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Tax on profit

Reconciliation of tax expense

			Period
			ended
			31/03/22
			£
	Profit before taxation		134,984
			_______

	Profit multiplied by rate of tax		25,647
	Effect of capital allowances and depreciation		( 25,647)
			_______
	Tax on profit		-

5. Tangible assets

	Long leasehold property	Fixtures, fittings and equipment	Total
	£	£	£
Cost
At 10 September 2021	-	-	-
Additions	19,636,791	210,195	19,846,986
	_______	_______	_______
At 31 March 2022	19,636,791	210,195	19,846,986
	_______	_______	_______
Depreciation
At 10 September 2021	-	-	-
Charge for the year	-	42,039	42,039
	_______	_______	_______
At 31 March 2022	-	42,039	42,039
	_______	_______	_______
Carrying amount
At 31 March 2022	19,636,791	168,156	19,804,947
	_______	_______	_______

6. Debtors

			31/03/22
			£
	Trade debtors		58,508
	Prepayments		150,478
			_______
			208,986
			_______

7. Creditors: amounts falling due within one year

			31/03/22
			£
	Other creditors		19,948,004
			_______

8. Related party transactions

The beneficial shareholders have made interest free advances to the Company of £19,948,004. Although these loans are repayable upon demand the shareholders have indicated to the board that they would not call for repayment until alternative finance has been secured and on that basis the Board have prepared these Accounts on a going concern basis.